Minimum wage hikes are causing businesses to cut jobs

[m.knox]

Big surprise, right? The left really needs to understand that for every action, there is a reaction.

http://www.businessinsider.com/minimum-wage-leads-to-job-losses-2017-3

In February, Wendy’s CEO Bob Wright said the firm expects wages to rise at least 4% in 2017. Wendy’s has three options to offset the rising costs.

First, they could cut margins, but with an 8% margin, that’s unlikely. The second option is to raise prices. Given how price-sensitive consumers are these days, that too is a non-starter. Finally, the firm could reduce the amount of labor they use… and that’s exactly what they did. Wendy’s eliminated 31 hours of labor per location, per week.

 

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